When Does SPAXX Pay Interest? Exact Payment Date, Timing & Schedule
SPAXX generates income from the securities held by the fund, with the amount distributed to shareholders varying over time.
Fidelity reports SPAXX’s distributions as dividends rather than traditional bank interest.
SPAXX Yield & Dividend Growth
Historical 7-day yield and dividends per share, 2020–2026
*2026 figure is year-to-date. SPAXX (Fidelity Government Money Market Fund) data shown for illustrative purposes.
Which Fidelity Core Position Should You Choose?
Compare SPAXX, FZFXX, and Fidelity’s FDIC-insured option to see how each core position works.
When Does SPAXX Pay Interest?
SPAXX accrues interest daily and pays it monthly.
- Income accrues: Daily
- Dividend declaration: Generally daily
- Payment/distribution: Monthly
- Typical payment date: Last business day of the month
- Reinvestment: If your account is set to reinvest distributions, the dividend can be automatically reinvested into SPAXX.
So, your every day’s interest is added to an accrued total, then the cumulative accrued interest amount is deposited, generally on the first day of the following month.
If you hold $10,000 in SPAXX throughout September, the fund generally accumulates income each day during September.
That accumulated income is then distributed around the last business day of September, rather than being deposited as a separate interest payment every day.
Does SPAXX Pay Interest Daily or Monthly?
SPAXX effectively earns income daily, but you receive the payment monthly.
The money market mutual funds such as SPAXX normally declare dividends daily and pay them monthly, on the last business day of the month.
Is SPAXX Worth It?
See how SPAXX compares on yield, safety, fees, taxes, and risks before you put your cash to work.
What Day of the Month Does SPAXX Pay?
SPAXX generally pays its monthly dividend on the last business day of each month.
| Month | SPAXX Distribution Date |
|---|---|
| August 2026 | August 31 |
| July 2026 | July 31 |
| June 2026 | June 30 |
| May 2026 | May 31 |
| April 2026 | April 30 |
| March 2026 | March 31 |
- The record date is the final business day of the month, the same day the dividend is declared.
- The ex-dividend date is effectively that same day; if you hold shares through the last day, you get the dividend. The distribution is then credited on the next business day.
The payment is generally made on the last business day of the month, so the exact date can change depending on weekends and holidays.
Do You Earn SPAXX Interest for Part of a Month?
Yes, you can earn SPAXX dividends for only part of a month.
You do not generally need to hold SPAXX for the entire month.
Suppose you buy SPAXX on September 10 and keep it through the end of September:
- You generally begin earning dividends according to the fund’s purchase-day rules.
- You earn income for the eligible days you hold the shares.
- You don’t have to own SPAXX on September 1 to receive a September dividend.
- The accumulated dividend is generally distributed at the end of the month.
| Purchase Date | Amount in SPAXX | Days Held in Month | Earns That Month? | Approx. Result |
|---|---|---|---|---|
| September 1 | $10,000 | 30 days | Yes | Full month’s eligible earnings |
| September 5 | $10,000 | 26 days | Yes | Earnings for eligible days held |
| September 10 | $10,000 | 21 days | Yes | Earnings for eligible days held |
| September 15 | $10,000 | 16 days | Yes | Earnings for eligible days held |
| September 20 | $10,000 | 11 days | Yes | Earnings for eligible days held |
| September 25 | $10,000 | 6 days | Yes | Earnings for eligible days held |
If SPAXX’s annualized yield were 4.00% and you held $10,000 for 15 eligible days, a simple approximation would be: $10,000 × 4% × 15 ÷ 365 = about $16.44
What Happens to Your SPAXX Dividend?
If SPAXX is your Fidelity core position, the monthly dividend is generally reinvested into SPAXX, adding more SPAXX shares to your account.
Mutual fund dividends are generally reinvested by default, and eligible core money market funds in brokerage accounts can only be coded to reinvest in a security.
| Before dividend | Monthly SPAXX dividend | After dividend |
|---|---|---|
| $10,000 in SPAXX | $30 | About $10,030 in SPAXX |
| $25,000 in SPAXX | $75 | About $25,075 in SPAXX |
| $50,000 in SPAXX | $150 | About $50,150 in SPAXX |
How Much Does SPAXX Pay & Yield
SPAXX’s yield is tied to short-term Treasury rates.
It is paying roughly 3.34% annually based on its 7-day yield.
| Yield Measure | SPAXX Value, September 2026 |
|---|---|
| 7 day yield | 3.34% |
| Compound effective yield | 3.39% |
| NAV | $1.00 |
| August 2026 dividend | $0.002820719 per share |
| July 2026 dividend | $0.002799403 per share |
| June 2026 dividend | $0.002699710 per share |
*These monthly figures are simply the annualized yield divided by 12. Actual SPAXX monthly dividends vary, so they won’t necessarily equal these amounts each month.
SPAXX FAQ
SPAXX dividends are generally taxed as ordinary income and reported on Form 1099-DIV. Some income from U.S. government securities may be exempt from state and local taxes.
SPAXX purchases generally settle the same day and begin earning income from the settlement date.
You generally cannot transfer SPAXX directly to another brokerage, so it may need to be sold first. Changing your core position simply determines where your uninvested cash is held.
SPAXX can serve as the cash sweep or core position in eligible Fidelity accounts, automatically investing uninvested cash in the fund.
SPAXX can be held in eligible retirement accounts, where its income receives the account’s tax treatment. In a traditional account, taxes are generally deferred until withdrawal, while qualified Roth withdrawals are generally tax-free.
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